International Business & Economy CPF Board requires members to have sufficient funds till age 128? Why?

CPF Board requires members to have sufficient funds till age 128? Why?

Author

Date

Category

- Advertisement -

A letter writer to the Today newspaper, Phan Pang Chia, is asking why the Central Provident Fund (CPF) Board is requiring its members to have sufficient funds in their retirement account to last them till age 128.
His wife was informed by the Board that she will be able to withdraw a monthly payment from the age of 64. The letter further stated, “With the current RA (Retirement Account) interest rate, your RA balance is expected to last about 64 years.”
The letter writer wanted CPF Board to explain why is there a need “for the RA balance to last until the age of 128, when the oldest ever Singaporean was 115 years old.”

Please follow and like us:
Tweet
Share
No tags for this post.
- Advertisement -

Businessman gets back S$12.7m from ex-mistress but she keeps condo unit and car

Singapore — A wealthy businessman from China who plied his former mistress with gifts before and during their relationship has sued successfully to get back S$12.7 million he had transferred to her while they were together. Mr Xu Zhigang, who is married,...

LKY’s last will: Lee Suet Fern disagrees with 15-month suspension

Singapore — Lawyer Lee Suet Fern issued a statement on Friday (Nov 20) after it was announced that the Court of Three Judges had suspended her from practising for 15 months over her handling of the last will of her late...

Calvin Cheng points to social status of WP MPs Raeesah Khan and Jamus Lim

Singapore -- Former Nominated Member of Parliament (NMP) Calvin Cheng took to social media on Saturday (Nov 14) about a post by WP MP Raeesah Khan celebrating her birthday with her constituents and at home and another by MP Jamus Lim...
Please follow and like us:
Tweet
Share
No tags for this post.
Follow Me
Tweet